Slide 1: TomTom Q4 2012 results
TomTom Q4 2012 results Harold Goddijn – CEO Marina Wyatt – CFO 12 February 2013
Slide 2: Summary of results
Summary of results › Revenue of €1,057 million and adjusted EPS of €0.40 › PND market performed as expected › Automotive affected by weak new car sales in Europe › Licensing revenue base profile is changing › Business Solutions grew strongly › OPEX reduction from €538 million to €484 million › Stron
Slide 3: Q4 operational developments
Q4 operational developments › Consumer › EU market share 50% › Fitness developing well › Automotive › Tough market conditions › Licensing › Major improvements in HD Traffic with the addition of many millions of probes › New developer portal offers map display, routing, traffic and geocoding › Busine
Slide 4: Strategy update
Strategy update › New product unit structure fully implemented and delivering results › Consumer broadening product portfolio, while maximising the PND opportunity › Peugeot Citroen PSA and Qoros deals first visible successes of modular approach in Automotive › Map and traffic technology innovation
Slide 5: Outlook 2013
Outlook 2013 › Revenue of between €900 million and €950 million › Adjusted EPS of around €0.20*; €0.25 excluding impact of new PNDs with lifetime maps in Europe * EPS adjusted for acquisition-related amortisation on a post-tax basis; assuming an ETR of 22% 5
Slide 6: Revenue analysis for the quarter
Revenue analysis for the quarter Q4 2011: €357 million Q4 2012: €289 million by business unit by business unit Business Business Solutions Solutions 5% Consumer Consumer 7% 68% 65% Licensing 11% Licensing 13% Automotive Automotive 16% 15% by category by category C&S C&S 30% 34% Hardware Hardware 66%
Slide 7: Revenue analysis for the year
Revenue analysis for the year FY 2011: €1,273 million FY 2012: €1,057 million by business unit by business unit Business Business Solutions Solutions Consumer Consumer 5% 7% 60% 66% Licensing 11% Licensing 13% Automotive Automotive 18% 20% by category by category C&S C&S 32% 38% Hardware Hardware 68
Slide 8: Earnings overview for the quarter
Earnings overview for the quarter in € millions Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Q4 '12 Gross result 173 166 114 136 150 154 Gross margin 51% 47% 49% 52% 55% 53% Operating expenses 132 156 114 122 118 130 Operating result 41 10 (0) 14 32 25 Operating margin 12% 3% 0% 5% 12% 9% Interest result (6)
Slide 9: Cash flow for the quarter
Cash flow for the quarter in € millions Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Q4 '12 Operating result 41 10 (0) 14 32 25 Depreciation and amortisation 28 37 28 27 27 29 Financial (losses)/gains (2) 8 3 1 (0) (4) Other 1 (6) (4) 5 (5) 0 Changes in working capital 8 88 (11) (28) 0 49 Cash generated from
Slide 10: Balance sheet
Balance sheet in € millions 30 Sep '11 31 Dec '11 31 Mar '12 30 Jun '12 30 Sep '12 31 Dec '12 Goodwill 382 382 382 382 382 382 Other intangible assets 896 872 861 847 836 821 Other non-current assets 57 47 46 44 41 44 Inventories 73 66 55 64 59 44 Receivables, prepayments & derivatives 273 239 157 2
Slide 11: Redemption profile and cash position
Redemption profile and cash position Cash and cash equivalents 250 Net redemption amount 164 200 (in € millions) 150 100 75 75 100 50 0 › Facility of €250 million; bi-annually tested covenants of a leverage ratio of 3.0 (Q4: 0.5) and interest cover of 4 (Q4: 23) 11
Slide 12: Thank you Any questions?
Thank you Any questions?
Slide 13: Operating expenses development
Operating expenses development 60 156 44 47 45 160 43 40 38 40 R&D 132 130 20 122 118 120 114 0 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Q4 '12 60 80 40 Marketing 17 21 16 20 13 15 14 0 40 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Q4 '12 61 60 49 47 40 41 42 0 40 Q3 '11 Q4 '11 Q1 '12 Q2 '12 Q3 '12 Q4 '12 SG&A 20
Slide 14: Earnings overview for the year
Earnings overview for the year* in € millions 2010 2011 2012 Gross result 744 640 555 Gross margin 49% 50% 52% Operating expenses 558 552 484 Operating result 186 87 70 Operating margin 12% 7% 7% Interest result (35) (22) (12) Other finance result (16) 6 2 Result associates (1) (0) 1 Result before t
Slide 15: Cash flow for the year
Cash flow for the year* in € millions 2010 2011 2012 Operating result 186 87 70 Depreciation and amortisation 109 119 111 Financial (losses) / losses (12) 5 (1) Other 8 (2) (4) Changes in working capital (26) (13) 10 Cash flow from operations 265 195 187 Interest received 1 3 1 Interest paid (26) (1
Slide 16: Impact of FX rate changes for the quarter
Impact of FX rate changes for the quarter Q4 '12 results based on current exchange rates and those of previous quarters compared Q4 '12 Q4 '11 Q3 '12 in € millions rates rates rates Revenue 289 281 293 Cost of sales 135 130 138 Gross margin 53% 54% 53% Gross profit 154 151 155 P&L rates in € US doll
Slide 17: Outstanding shares
Outstanding shares Common shares outstanding end of Q3 ‘12 221,895,012 Common shares outstanding end of Q4 ‘12 221,895,012 Average shares outstanding end of Q4 ‘12 221,895,012 In the money share options end of Q3 ‘12 745,000 In the money share options end of Q4 ‘12 4,360,000 Average potential diluti
Slide 18: Disclaimer
Disclaimer This Presentation has been produced by TomTom N.V. (the “Company”) and is furnished to you solely for your information. This document contains certain forward-looking statements relating to the business, financial performance and results of the Company and the industry in which it operate